As a rule, blogging is attended by those people who earn little and are not used to getting a lot of income. When they manage to become famous and make big profits, they start spending money on unnecessary things and do not notice how they spend their entire budget in just a few days. Now you can even find many courses on financial literacy because a huge part of people around the world mismanage their income.
In this article, we will tell you how to learn how to control your income so that money does not flow away like water.
Where does financial illiteracy come from?
Many people from childhood are accustomed to the fact that their family has limited income and they are constantly saving and choosing goods at a discount. However, the moment they become popular and rich, they taste money for the first time and want to buy everything they never had. This is the wrong approach because you can never go to extremes.
Newbie bloggers often buy Instagram followers not because they can’t attract an audience on their own. They just don’t want to try. They need to get a lot of readers at once in order to gain popularity and start advertising other accounts. Of course, this approach is used by those who are engaged in creativity, not for pleasure, but for the sake of profit. However, if you only invest a budget in your development, but do not try to do something unique, then you will only lose money.
This is due to the fact that people do not study information on financial literacy, but at the same time they begin to receive a large income. We in no way discourage novice bloggers from the way to buy real Instagram followers and promoting their account in other ways, but we recommend that first of all try to create high-quality and interesting content that will attract an audience.
How to properly manage your income?
When you start making a lot of money and don’t need constant savings, you should start saving money from each paycheck into your account. It will be great at first if you save every 15-20% of your income. It is important to understand that this is a percentage of absolutely every receipt of money on your card.
Also start keeping a diary of income and expenses. Try to write down every waste you spend there, even the smallest. If it seems to you that spending a few cents on ice cream on the street does not mean anything, then add up all such expenses in a month and see how much you get.
If you come to the store and want to buy everything, then you need to make a list of the necessary goods before leaving the house. In this case, you will only buy what has been planned. This will help you avoid unnecessary spending and keep your budget.
We hope this article will help you reconsider your views on personal finance and change your life!
